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April 21, 2003 - Monday |
Russia plans to repay Soviet debt to successors of Yugoslavia in 2003
MOSCOW (Interfax) - The Russian Finance Ministry is hoping to complete the repayment of the debt of the former Soviet Union to the successors of Yugoslavia in an amount of about 1.2 billion clearing dollars, Russian Deputy Finance Minister Sergei Kolotukhin told reporters on Monday.
Russia and the successors of Yugoslavia have already signed agreements on the debt total, Kolotukhin said. In addition, the maximal rate for converting clearing dollars to U.S. dollars has been determined. This rate is to be 62.5 cents, he said.
This conversion rate is maximal and will be discussed with each of the successor countries in the future, he said. However, when the debt is recalculated on the basis of this rate it reaches no less than $800 million, Kolotukhin said.
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